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The Zacks Analyst Blog Highlights NVIDIA, Alphabet, Amazon.com, Arista Networks and RELX PLC
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For Immediate Release
Chicago, IL – August 25, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: NVIDIA Corp. (NVDA - Free Report) , Alphabet Inc. (GOOGL - Free Report) , Amazon.com, Inc. (AMZN - Free Report) , Arista Networks, Inc. (ANET - Free Report) and RELX PLC (RELX - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
Nvidia & 2 Other AI Stocks You'll Regret Not Buying Soon
Nearly three months after joining the trillion-dollar club, NVIDIA Corp. is minting more money than ever.
One of the world's largest chipmakers saw its revenues more than double in the fiscal second quarter, banking on the unparalleled demand for chips needed to run artificial intelligence (AI) applications. For instance, Nvidia's A100 AI chips are required to operate OpenAI's ChatGPT services.
In the latest quarter ending Jul 30, Nvidia reported revenues of $13.51 billion, up from $6.7 billion a year earlier, and increased 88% from the prior quarter. Most of the revenues were driven by the company's data center business, which consists of AI chips.
The data center business improved by leaps and bounds as tech behemoths like Alphabet Inc. and Amazon.com, Inc., to name a few, grabbed next-generation processors. The data center business accounted for a record $10.32 billion of the total revenues in the said quarter, up 171% year over year.
Among the company's core businesses, the gaming division also saw stupendous growth in the said quarter. Nonetheless, the company's earnings for the fiscal second quarter came in at $2.48 per share, a mammoth jump from 26 cents a year ago, and climbed 202% from the previous quarter.
What's more, the company expects revenues of $16 billion in the quarter ending in October, thanks to the soaring demand for Nvidia's GPUs needed for AI model training. Thus, the company's revenue guidance for the current quarter indicated that sales are poised to jump 170% from a year earlier.
The company also reassured that the Biden administration's latest move to restrict the export of data center GPUs won't have an immediate impact on Nvidia's financials as demand for their products continues to remain solid worldwide. All these positive developments, consequently, make Nvidia a compelling buy despite lofty valuations.
Currently, Nvidia flaunts a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for its current-year earnings has increased 3.9% over the past 60 days. The company's expected earnings growth rate for the current year is 138.3%. Shares of Nvidia have already gained a whopping 250.2% so far this year. You can see the complete list of today's Zacks #1 Rank stocks here.
But it's just not Nvidia, from an investment perspective, AI stocks such as Arista Networks, Inc. and RELX PLC are also worth placing a bet on. After all, these stocks are well-positioned to make the most of the booming AI industry.
Allied Market Research reported that the generative AI industry is projected to make $191.8 billion by 2032 at a CAGR of 34.1% from 2023 to 2032. AI, in reality, is in demand since this technology improves efficiency levels and drives innovation.
Meanwhile, Arista Networks' cloud network solutions and data centers provide the necessary processing power for AI workloads. Arista Networks presently has a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for its current-year earnings has increased 4.9% over the past 60 days. The company's expected earnings growth rate for the current year is 34.5%.
Similarly, RELX has lately incorporated AI across all its divisions, such as science, legal and risk. RELX known for providing information solutions, at present, has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has increased 5.2% over the past 60 days. The company's expected earnings growth rate for the current year is 13.5%.
Shares of Arista Networks and RELX have gained 63.5% and 14.9%, respectively, in the year-to-date period.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights NVIDIA, Alphabet, Amazon.com, Arista Networks and RELX PLC
For Immediate Release
Chicago, IL – August 25, 2023 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: NVIDIA Corp. (NVDA - Free Report) , Alphabet Inc. (GOOGL - Free Report) , Amazon.com, Inc. (AMZN - Free Report) , Arista Networks, Inc. (ANET - Free Report) and RELX PLC (RELX - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
Nvidia & 2 Other AI Stocks You'll Regret Not Buying Soon
Nearly three months after joining the trillion-dollar club, NVIDIA Corp. is minting more money than ever.
One of the world's largest chipmakers saw its revenues more than double in the fiscal second quarter, banking on the unparalleled demand for chips needed to run artificial intelligence (AI) applications. For instance, Nvidia's A100 AI chips are required to operate OpenAI's ChatGPT services.
In the latest quarter ending Jul 30, Nvidia reported revenues of $13.51 billion, up from $6.7 billion a year earlier, and increased 88% from the prior quarter. Most of the revenues were driven by the company's data center business, which consists of AI chips.
The data center business improved by leaps and bounds as tech behemoths like Alphabet Inc. and Amazon.com, Inc., to name a few, grabbed next-generation processors. The data center business accounted for a record $10.32 billion of the total revenues in the said quarter, up 171% year over year.
Among the company's core businesses, the gaming division also saw stupendous growth in the said quarter. Nonetheless, the company's earnings for the fiscal second quarter came in at $2.48 per share, a mammoth jump from 26 cents a year ago, and climbed 202% from the previous quarter.
What's more, the company expects revenues of $16 billion in the quarter ending in October, thanks to the soaring demand for Nvidia's GPUs needed for AI model training. Thus, the company's revenue guidance for the current quarter indicated that sales are poised to jump 170% from a year earlier.
The company also reassured that the Biden administration's latest move to restrict the export of data center GPUs won't have an immediate impact on Nvidia's financials as demand for their products continues to remain solid worldwide. All these positive developments, consequently, make Nvidia a compelling buy despite lofty valuations.
Currently, Nvidia flaunts a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for its current-year earnings has increased 3.9% over the past 60 days. The company's expected earnings growth rate for the current year is 138.3%. Shares of Nvidia have already gained a whopping 250.2% so far this year. You can see the complete list of today's Zacks #1 Rank stocks here.
But it's just not Nvidia, from an investment perspective, AI stocks such as Arista Networks, Inc. and RELX PLC are also worth placing a bet on. After all, these stocks are well-positioned to make the most of the booming AI industry.
Allied Market Research reported that the generative AI industry is projected to make $191.8 billion by 2032 at a CAGR of 34.1% from 2023 to 2032. AI, in reality, is in demand since this technology improves efficiency levels and drives innovation.
Meanwhile, Arista Networks' cloud network solutions and data centers provide the necessary processing power for AI workloads. Arista Networks presently has a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for its current-year earnings has increased 4.9% over the past 60 days. The company's expected earnings growth rate for the current year is 34.5%.
Similarly, RELX has lately incorporated AI across all its divisions, such as science, legal and risk. RELX known for providing information solutions, at present, has a Zacks Rank #2. The Zacks Consensus Estimate for its current-year earnings has increased 5.2% over the past 60 days. The company's expected earnings growth rate for the current year is 13.5%.
Shares of Arista Networks and RELX have gained 63.5% and 14.9%, respectively, in the year-to-date period.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.